Understand the financial objectives for starting a business (D) Be able to describe a range of non-financial objectives (C) Analyse the difference or objectives when starting a business or social enterprise (B)
home learning.jpg
Research business bank accounts - what advice would you offer to a small business regarding their banking when starting up
Starter (5 mins)
Make a list of the financial objectives when starting a business
list.jpg
Key Words (2 mins)
Add todays keywords to your spreadsheet or book
Screen Shot 2013-11-13 at 10.26.59.png
Information (10 mins)
Objectives are not always financially driven, whilst an entrepreneur may ultimately want to make a profit their initial objectives may be simpler such as being their own boss, or improving work/life balance. Some business are social enterprises, where the profits are a by product of the benefit to the community.
Financial Objectives Financial objectives are not merely to make a profit - when starting a business a profit is likely to be in the future. Financial objectives include.
Income
Survival
Security
Wealth
Non-Financial Objectives The non-financial objectives are likely to be far more important to an entrepreneur.
Independence
Control
Challenge
Personal Satisfaction
Helping Others
Task (15 mins)
Write a paragraph explaining the importance of non-financial objectives to someone starting their first business.
Practice Question (15 mins)
Screen Shot 2013-11-13 at 10.46.25.png
Explain the objectives of the directors in setting up this company (5 marks)
Explain the objectives in making it a social enterprise (5)
Plenary (10 minutes)
Would you ever become involved in a community interest company? What benefits would this have for you.....
Objectives When Starting Up
Lesson 1 Lesson 2 Lesson 3 Lesson 4 Lesson 5 Lesson 6 Lesson 7 End of Unit Test
Lesson Objectives
Understand the financial objectives for starting a business (D)Be able to describe a range of non-financial objectives (C)
Analyse the difference or objectives when starting a business or social enterprise (B)
Starter (5 mins)
Make a list of the financial objectives when starting a businessKey Words (2 mins)
Add todays keywords to your spreadsheet or bookInformation (10 mins)
Objectives are not always financially driven, whilst an entrepreneur may ultimately want to make a profit their initial objectives may be simpler such as being their own boss, or improving work/life balance. Some business are social enterprises, where the profits are a by product of the benefit to the community.
Financial Objectives
Financial objectives are not merely to make a profit - when starting a business a profit is likely to be in the future. Financial objectives include.
Non-Financial Objectives
The non-financial objectives are likely to be far more important to an entrepreneur.
Task (15 mins)
Write a paragraph explaining the importance of non-financial objectives to someone starting their first business.Practice Question (15 mins)
Plenary (10 minutes)
Would you ever become involved in a community interest company? What benefits would this have for you.....